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Sorry. I thought that was one of the entities sold off.
Can anyone speculate on the sources, if any, of Globetel's revenue, if any? As far as I know, those little storefront Callanywhere Metrotel stores are the only entities actually designed to sell to the public, and I don't recall that Sam has reported back any positive response to his nationwide calls. I wonder how much string is left on the ball.
Vern was right about being contacted by the reporter. He was wrong about swaying her opinion. Good article, though. It won't change any minds, but then what will? There are still those who sell all their possessions except for the clean white sheets and await the next coming easter morning.
Everything should be wrapped up by Thanksgiving. I hope I'm wrong, but I doubt it. Good luck to all.
I don't know when the transfer of Magic Money or Centerline or whatever it was called to Gotham took place, but anytime after the first anniversary Globetel can file Chapter 7 and liquidate the desks and dengue kits remaining. Barnum vastly underrated the birthrate of suckers. Another opportunity to throw bread upon the water will come along, but I'll be aboard the Vanguard clipper ship. You don't always get what you want no matter how hard you rationalize away the obvious looking for the good.
BDAY: You are right. Pete Clay was my only member-marked poster on Raging Bull I often have wondered where he went after he grew disgusted with RB, as so many of us have, and am glad he has resurfaced. He was the most impressive poster on any board I have read.
Axel: Thanks for the post. I Googled Antcor and noticed our little operation was not listed as one of their partners. What made you decide to contact Antcor? Whatever the reason, if they are the the juice behind the Mexican operation, it might be useful to know. Perhaps that accounts for the resounding silence from South of the border. Maybe they cannot get a dial tone to contact Rob and have him post the good news to us. Nah. There must be a better explanation out there somewhere.
Sirius: Where would you deliver a package to Globetel? That is, if your job involved delivering packages to commercial enterprises.
VPN should bid on this project. They already have a demonstrator LA can drive.
Risk: It was ADGI. Then some GTEL afterward, but not as much.
GTEM is the stock symbol. I posted under another name until a power outage wiped out my access. Used to be Bannister. Details of ownership of stock are correct. Anyway, what difference does it make how old my spot on this board is?
Let me put this in Peter Rabbit talk: There is no Mexican joint venture between GTEL and VPN. Maybe there will be in the future, though I doubt it since the situation changed after GTEL went to Mexico and is no longer the same entity. I don't believe Peralta would put his money on a lame horse.
I have owned this stock for about nine years.I once had a tubful of shares, which was reduced to a bucketful after the reverse split, and I have never sold a single share. I don't pump the stock and I don't slam the stock. I just own the stock. Maybe someday I'll order out my certificates and paper one of the spare bedrooms.
Sirius: That's okay with me. You go ahead and don't believe whatever it is you don't want to believe and leave it at that. As far as I am concerned, whatever the emperor has in his wardrobe, he's not wearing it for us to see, so you continue your quest for the fewments of the questing beast, and I will watch and wait for developments. Have a good day and good luck. Respectfully, Wingshot.
Siriusly:
"If there is a JV in Mexico, Germany or anywhere else in the world, it has yet to be revealed to the owners."
Nope, I won't feel silly, I'll feel relieved that at long last step 2 of a multistep plan has taken place. The above quote is true as of now.
This is like watching General Franco finish dying. I wish it were not so, but the company appears to be imploding. I don't think it really exists anymore except as a defendant in the U.S. District Court in Florida, an investigation by the SEC and these boards. If there is a JV in Mexico, Germany or anywhere else in the world, it has yet to be revealed to the owners. Carl Hiasen should write a novel based on this adventure. Maybe he can find something funny in this tragedy. I find only a tax writeoff looming.
Sinful: Broken leg or not, if Rob has any enthusiasm for GTEL's future, he would be somewhere in Florida at the GTEL offices, where he can at least find out firsthand what's going on in the company. This way, everything Rob sends out to individual or group shareholders is hearsay. He has no personal knowledge of what is going on at the head shed, some 900 miles away as the diapered astronautess drives. I doubt he invested his year-end bonus in GTEL stock or has listed his house for sale.
Would you relocate to Florida if you were Rob?
Boiler room operation would fit the description. All phone lines outgoing, save the unlisted ones. "Sign? I don't need no stinking sign!"
So, The JV with VPN will likely fail because the parties cannot reach a mutually acceptable agreement. Since VPN paid for the installation of the Hotzone, it will belong to VPN. The Mexican courts will so rule if the ownership is contested. A new JV between VPN and certain GTEL employees will be formed to build out the system The shareholders of GTEM, if they happen to live in Mexico, are invited to subscribe to this paradigm shift in communications technology as soon as it becomes available to those other than the Beta class. New subscribers will be designated the Delta Class for purposes of identification.
Cab: As a guess, I would venture that the "DD" was unreliable due to the assumptions, rather than facts, on which it was based. Too much pie in the sky without meat on the plate. Wizard of Oz communication style of management. Winks and nods from directors at SHM were interpreted as good, although non-specific, news. The new management team is refreshing in that they are interested in recouping their investment rather than placating the information needs of shareholders. They stand a better chance of success than those they replaced. Stay tuned; it might get interesting.
I believe the company is doing about as well as an undercapitalized and understaffed startup can do, especially with managemnet's lack of experience in this area, but they seem to be chipping away at it. I know: Google and Microsoft and Dell and HP all started out the same, but thay aren't the subject of this post and their leaders are far from the caliber of GTE's group. I just hope GTE can hold out long enough to turn the corner and throw off some cashflow.
Too bad they say "there" when they mean "their". Sort of gives you faith in their analytical ability. So there.
Thet haven't signed a contract with anyone because they are a company in turmoil, without a track record or profitability, who are under investigation by the SEC for some reason, high turnover of BOD members, and unverifiable accomplishments in any of the areas they claim to work in. Other than that, I am as mystified as you are why no contracts have been signed.
For an insight into dealing with the Russians, be sure and read Shell Oil's annual report when it comes out.
I remember the report that S1 was cannibalized for parts for S2, but old S1 apparently is alive and well in the in the minds of some.
Cute little fellow, isn't he?
Pagan: Thank you.
I give up. Will someone please tell me what is meant by "ibox"? My request keeps getting deleted, and it's a serious question.
What's an ibox?
Sorry. I missed the minus.
How do you come up with a 34% profit margin? Based on what sales and expenses? I doubt we even have a gross profit maegin of 10%, but we can hope. Keep your eye on the prize. It moght be up in the air Friday or Saturday.
This is ridiculous. If Klaus was entitled to file the petition when he signed it, it was legitimate. If the attorney waited until the 3rd to file it, and Klaus wasn't terminated until the 31st of Oct, then on its face it was legitimate. If the corp goes to the court and points out the time difference and the filing of the petitioner, AND shows the court that the debts are going to be paid, then the court probably would dismiss it. The issue is whether or not Klaus knew he was going to be fired or had already been fired when he signed the petition. I suspect that Klaus' firing came after he signed the petion but before the attorney ambled over to the bankruptcy clerk and filed it.
You do not have to own this stock to post on this board. Those who are too bashful or too poor to call the company and ask for information must depend on what they get from those who aren't. Fortune favors those who do rather than those who wait and see.
I am thankful that I never tried to persuade friends or family to buy this stock.
Trunk, the BK petition was probably prepared in Oct. while Klaus was still president and filed on the 3rd. The only reason I can imagine for the filing is that Knlaus had some dispute with GTE over funding and felt that he would run out of money before the project turned cash flow positive. I doubt Klaus knew he was going to be terminated Oct. 31. Maybe Klaus will reveal his motivation.
The one year rule in bankruptcy applies to transfers of assets to insiders. For all others, it is 90 days.
Put this stock in your sock drawer and come back in five years. You will either have made money or lost money, but you will have avoided five years of time wasted on something you cannot influence.
Jim: You are probably the most thoughtful and reliable poster on this board. Whether you own this stock or not, please keep us informed on what you uncover over there. It is a pleasure to read your posts. Thank you.
Globetel is a defendant in a lawsuit. The federal courts do not smile upon defendants who dispose of assets while the case is pending. One is reminded of cats madly covering up scat.
Perhaps the petition was prepared while Klaus was still employed and not filed until after he was fired and he neglected to tell the person who filed it that he was no longer empowered to sign the petition. In the U.S. , and I hate to keep coming back to this, but a corporate resolution signed by the secretary stating that a board meeting was held on such and such a date and the board voted to place the corp. in bankruptcy must accompany the petition. Maybe no such rule in Germany, but if there is, then the corp officers certainly could not be ignorant of the filing, unless the resolution along with the corporate seal was faked. A very strange series of events.
Twenty-five years as a bankruptcy attorney representing debtors, both personal and business. Those "boilerplate" forms have to be snswered one by one.